Substrate AI resumes shopping after its merger with Zonavalue and the commitment to artificial intelligence with the acquisition of 10% of Grupo Assista's capital. Under the strategic agreement sealed between the two entities, Substrate AI will implement its technology in new sectors before its landing on Euronext Growth, scheduled for later this year, and access a client portfolio of more than 30 large companies, thus strengthening its presence in verticals such as energy, fintech and insurtech, mainly.
With this transaction, Substrate becomes a shareholder of the Valencian construction and Facility Service company, which has an accumulated business track record of more than 25 years in sectors such as construction, property management, energy efficiency, facility maintenance and home and business assistance.
Thus, the entry of Substrate AI in Grupo Assista will allow the company chaired by Lorenzo Serratosa to also break into the contact center business. The goal is to transform and enhance interpersonal interactions through optimal and efficient management with its technology.
In this way, Substrate AI will provide its cutting-edge technology for Assista to offer the benefits of artificial intelligence to its customers, among which are all the major banks of the Ibex 35, the main insurance companies in the country and other large national and international companies such as El Corte Inglés, Correos, Leroy Merlin or Midas, among others, which allow it to bill more than 50 million euros.
The entry into Assista's capital also reinforces Substrate AI's objective of becoming a benchmark in the artificial intelligence sector in Spain and of being a player The company has a strong presence in the business verticals where this technology achieves a more efficient economy, such as the financial sector, renewable energies, HR, livestock and agriculture, among others.
In addition, the future listed company is stepping on the accelerator with the goal of serving more than 3,000 companies with its artificial intelligence solutions by 2024 and is going another gear to achieve a turnover of more than 24 million that year.
According to Lorenzo Serratosa, "the entry into the capital of Assista is our first major investment after the merger with Substrate AI and will allow us to increase our customer base and accelerate our growth inorganically in order to achieve our objectives for 2024".
For his part, Miguel Escrivá, CEO of Assista, emphasized that "this agreement will allow us to implement cutting-edge technology such as the artificial intelligence system developed by Substrate in everything we do, making us a technological benchmark in the sectors in which we operate".